REG-Cadogan Petroleum: Resumption of Production

Cadogan Energy SolutionsAnnouncement

22/06/2020 07:05

Press Release
                                                                                                                                  
22(nd) June 2020

This announcement contains inside information as defined under the Market
Abuse Regulations n. 596/2014

Cadogan Petroleum Plc
("Cadogan" or the "Company")

Resumption of production from Blazhiv-3 and Blazhiv-3-Monastyrets.

Operational update

As anticipated in the 2019 Annual Report, Cadogan Petroleum plc and Ukrnafta
have signed on June 18(th), 2020 the two lease contracts’ prolongation for
the wells of Blazhiv-3 and Blazhiv-3-Monastyrets. The Company is pleased to
announce the resumption of production from these two wells. The wells were
shut down since November 2019.

-ENDS-

About

Cadogan is an independent, diversified oil and gas company, which operates
exploration and production licenses in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies.

Ukrnafta is the largest oil company in Ukraine, with 62,3% share of the
country’s oil and condensate production. Ukrnafta operate 85 licences and
own a fleet of 24 drilling rigs.

For further information, please contact:

Cadogan Petroleum plc
Fady Khallouf                              Chief
Executive Officer          fady.khallouf@cadoganpetroleum.com
Ben Harber                                 
Company Secretary                +44 0207 264 4366

Cantor Fitzgerald Europe      Broker to Cadogan Petroleum plc

David
Porter                                                                                      
+44 (0) 20 7894 7000



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